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Thanks to near-monopolies in many industries, corporations are seeing record profits as consumers struggle with high prices
Via Graham Watson
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Rescooped by Bruce Fellowes from Microeconomics: IB Economics |
Scoop.it!
Via Graham Watson
Evidence of price gouging - with firms taking advantage of an inflationary environment to boost profits. Who would have thought it?
Certainly Robert Reich thinks that stubborn inflation in the US might be related to record levels of corporate profit earned in the fourth quarter of 2023. He argues that many industries are more concentrated than ever, and firms able to exploit their market power, and act against consumers' interests.
They'll be suggesting it could be happening in the UK, next. Remind me, what were Tesco's profits last year?